3:17pm ET
Housing
Trend Death: Wells Fargo Quits Reverse Mortgages (WFC)
Wells Fargo & Co. (NYSE: WFC) is one of the “Too Big To Fail” banks. Now it is going to be known as the “Too Big To Reverse Mortgage” bank. Today came…
Jon C. Ogg
Companies
/Financial Services
Wells Fargo & Company
$84.89
▼ $0.34 (−0.40%) today
Markets open · 4:09pm ET
WFC Coverage
Page 65 Jon C. Ogg 10:06am ET
Housing
Sizing Up Mortgage Exposure, Earnings, and Book Value for BofA and Peers (BAC, C, CMA, NYB, NTRS, RF, STT, USB, WFC, JPM, XLF, FAS)
Bank of America Corporation (NYSE: BAC) has found itself as the king of the mortgage mess after it decided to acquire Countrywide. By acquiring the company’s corpse rather than trying to just…
10:38am ET
Banking, finance, and taxes
Moody’s Reviews U.S. Banks, Effectively A Downgrade Without Formality (BAC, C, WFC, BK, FAS, FAZ)
Moody’s is not without question over how it rated (and still rates) many issues after the credit crisis. The problem with that caveat is that ratings agencies are still considered relevant by…
6:42pm ET
Banking, finance, and taxes
Whale Watching Stocks: Paulson, Soros, Berkowitz, Icahn, Einhorn (GLD, HPQ, RIG, BAC, JPM, WFC, C, AAPL, BBY, WMT, MA, AIG, BAM, CSCO, SHLD, GGP, GE, DYN, AMGN, SUG, CVS, GM)
Jon OggWe have already seen (some) of the position changes of Warren Buffett, but the old guy wouldn’t share many ‘confidential positions’ so we are whale watching in other ponds. We wanted to…
5:05pm ET
Industrials
Berkshire Hathaway & Buffett’s Stock Holdings ‘M to Z’ (BRK-B, BRK-A, MA, MTB, MCO, PG, SNY, TMK, USB, USG, UPS, WMT, WPO, WFC, WSC)
Berkshire Hathaway Inc. (NYSE: BRK-B, BRK-A) is out with its new portfolio holdings as of March 31, 2011. These have been broken down into two separate groups of ‘A to L’ and…
5:48am ET
Investing
Citigroup’s $550 Share Price
Citigroup (NYSE: C) reverse split its stock and each stockholder with 10 shares got one. That took the price of Citi to $44. No one was fooled by the action. The big…
2:47pm ET
Banking, finance, and taxes
Anticipating the Citigroup Reverse Stock Split, Trading Implications are Major and Many (C, AIG, NYX, BAC, WFC, JPM, RF, KEY, BPOP, IRE, AIB, NBG)
Citigroup, Inc. (NYSE: C) is about to get a huge stock makeover. This is its last week as a stock in the single-dollar digits. At least that is what the world hopes. …
8:18am ET
Investing
Top Analyst Upgrades & Downgrades (ACI, DNDN, RE, GM, HERO, JBLU, ERIC, POOL, REE, X, VIA-B, VVUS, WFC)
Jon OggThese are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Tuesday morning. Arch Coal Inc. (NYSE: ACI) Raised to Buy at Brean Murray;…
11:23am ET
Banking, finance, and taxes
Berkshire Hathaway & Warren Buffett Add More Wells Fargo Shares (BRK-A, BRK-B, WFC)
We took a look through more of the earnings data from the Berkshire Hathaway Inc. (NYSE: BRK-A; BRK-B) annual meeting this morning and there was one key change in the stock holdings. We detailed Buffett’s…
2:09pm ET
Investing
Berkshire Hathaway Annual Meeting, Full Preview of Warren Buffett (BRK-A, BRK-B, GS, GE, LZ, COP, KO, PG, WFC, AIG)
This coming weekend will mark the one weekend that the hotels, retailers, and restaurants all look forward to in Omaha, Nebraska… Berkshire Hathaway Inc. (NYSE: BRK-A)(NYSE: BRK-B) has its much-anticipated shareholder meeting…
4:08am ET
Media
Media Digest (4/21/2011) Reuters, WSJ, NYT, FT, Bloomberg
Apple (NASDAQ: AAPL) earnings surpassed expectations and the company said iPad 2 units were backlogged (Reuters) BP plc (NYSE: BP) sued Transocean (NYSE: RIG) for $40 to cover costs related to Deepwater…
8:27am ET
Banking, finance, and taxes
Wells Fargo Delivers on Earnings, Value Catching Up (WFC)
Wells Fargo & Co. (NYSE: WFC) has just reported record net income of $3.8 billion on 49% year over year earnings growth to $0.67 EPS despite a near-5% sequential decline in revenues…
Jon C. Ogg 2:24pm ET
Investing
Top Earnings Previews For The Week Ahead (C, HAL, GS, YHOO, IBM, JNJ, T, AXP, AAPL, AMGN, WFC, GE, DD, HON, MCD, SLB, LUV)
Next week may be short because of a holiday, but it is going to be a very busy week for earnings. We have tried to narrow the field down to the very…
3:22pm ET
Banking, finance, and taxes
Earnings Preview for Bank of America (BAC, JPM, WFC)
Bank of America Corporation (NYSE: BAC) is due to report earnings on Friday morning and this will be the third DJIA component to report this week and the second of the DJIA financial…
4:29pm ET
Banking, finance, and taxes
Earnings Preview for JPMorgan (JPM, BAC, WFC, XLF, FAS)
On Wednesday morning will come the highly anticipated news regarding the first quarter earnings announcement from none other than Jamie Dimon and JPMorgan Chase & Co. (NYSE: JPM). This single earnings event…